Great West Life Assurance Co. Can lessened its holdings in Baker Hughes A GE Co (NYSE:BHGE) by 9.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 264,203 shares of the company’s stock after selling 27,990 shares during the period. Great West Life Assurance Co. Can’s holdings in Baker Hughes A GE were worth $8,946,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of BHGE. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Baker Hughes A GE by 8.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,277,503 shares of the company’s stock worth $42,196,000 after acquiring an additional 104,218 shares during the period. First Trust Advisors LP bought a new position in shares of Baker Hughes A GE during the 2nd quarter worth $247,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of Baker Hughes A GE during the 2nd quarter worth $11,587,000. Jennison Associates LLC bought a new position in shares of Baker Hughes A GE during the 2nd quarter worth $335,000. Finally, Alps Advisors Inc. bought a new position in shares of Baker Hughes A GE during the 2nd quarter worth $727,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.
In other Baker Hughes A GE news, Director Electric Co General sold 101,200,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $22.47, for a total value of $2,273,964,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.
Baker Hughes A GE (NYSE:BHGE) last issued its earnings results on Tuesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The company had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same quarter in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Baker Hughes A GE Co will post 0.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $0.72 annualized dividend and a yield of 3.32%. Baker Hughes A GE’s dividend payout ratio is currently 138.46%.
Several research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Baker Hughes A GE in a research note on Wednesday, October 10th. They set an “outperform” rating for the company. Morgan Stanley assumed coverage on Baker Hughes A GE in a research note on Tuesday, September 18th. They set an “overweight” rating and a $40.00 price target for the company. Stifel Nicolaus assumed coverage on Baker Hughes A GE in a research note on Monday, September 10th. They set a “buy” rating and a $40.00 price target for the company. B. Riley reiterated a “buy” rating on shares of Baker Hughes A GE in a research note on Monday, September 10th. Finally, Barclays reiterated a “buy” rating and set a $35.00 price target on shares of Baker Hughes A GE in a research note on Thursday, October 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. Baker Hughes A GE presently has an average rating of “Buy” and an average target price of $36.36.
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Baker Hughes A GE Company Profile
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies.
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